Transversality: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Transversality
Largest movements
- Receivables within one year +€41,601
up €41,601 (+146.6%), from €28,383 to €69,984
of which Trade receivables: +€52,107
- Stocks and contracts +€23,086
up €23,086 (+388.2%), from €5,948 to €29,034
- Current investments +€13,897
up €13,897 (+12.3%), from €113,277 to €127,174
- Intangible fixed assets -€3,513
down €3,513 (-6.2%), from €57,072 to €53,559
- Reserves +€81,647
up €81,647 (+47.9%), from €170,432 to €252,079
- Other debts -€18,823
down €18,823 (-89.9%), from €20,929 to €2,107
- Trade debts +€11,088
up €11,088 (+50.0%), from €22,178 to €33,266
- Gross operating margin +€25,430
up €25,430 (+35.8%), from €70,995 to €96,425
- Taxes +€7,858
up €7,858, from -€3,980 to €3,878
- Depreciation +€1,408
up €1,408 (+15.6%), from €9,020 to €10,429
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €219,239 | €293,152 | +€73,912 | +33.7% |
| Fixed assets | 21/28 | €59,021 | €55,381 | -€3,639 | -6.2% |
| Intangible fixed assets | 21 | €57,072 | €53,559 | -€3,513 | -6.2% |
| Tangible fixed assets | 22/27 | €1,949 | €1,822 | -€127 | -6.5% |
| Furniture and vehicles | 24 | €1,949 | €1,822 | -€127 | -6.5% |
| Current assets | 29/58 | €160,219 | €237,770 | +€77,552 | +48.4% |
| Stocks and contracts in progress | 3 | €5,948 | €29,034 | +€23,086 | +388.2% |
| Stocks | 30/36 | €5,948 | €29,034 | +€23,086 | +388.2% |
| Amounts receivable within one year | 40/41 | €28,383 | €69,984 | +€41,601 | +146.6% |
| Trade receivables | 40 | €3,279 | €55,386 | +€52,107 | +1589.3% |
| Other amounts receivable | 41 | €25,104 | €14,598 | -€10,506 | -41.9% |
| Current investments | 50/53 | €113,277 | €127,174 | +€13,897 | +12.3% |
| Cash at bank and in hand | 54/58 | €10,640 | €9,694 | -€946 | -8.9% |
| Deferred charges and accrued income | 490/1 | €1,971 | €1,885 | -€87 | -4.4% |
| Total equity and liabilities | 10/49 | €219,239 | €293,152 | +€73,912 | +33.7% |
| Equity | 10/15 | €173,432 | €255,079 | +€81,647 | +47.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €170,432 | €252,079 | +€81,647 | +47.9% |
| Distributable reserves | 133 | €170,432 | €252,079 | +€81,647 | +47.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €45,807 | €38,072 | -€7,735 | -16.9% |
| Amounts payable within one year | 42/48 | €45,807 | €38,072 | -€7,735 | -16.9% |
| Trade debts | 44 | €22,178 | €33,266 | +€11,088 | +50.0% |
| Suppliers | 440/4 | €22,178 | €33,266 | +€11,088 | +50.0% |
| Taxes, remuneration and social security | 45 | €2,700 | €2,700 | = | 0.0% |
| Taxes | 450/3 | €1,050 | €1,050 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,650 | €1,650 | = | 0.0% |
| Other amounts payable | 47/48 | €20,929 | €2,107 | -€18,823 | -89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,020 | €10,429 | +€1,408 | +15.6% |
| Other operating charges | 640/8 | €840 | €868 | +€28 | +3.3% |
| Gross operating margin | 9900 | €70,995 | €96,425 | +€25,430 | +35.8% |
| Operating profit (loss) | 9901 | €61,135 | €85,128 | +€23,994 | +39.2% |
| Financial income | 75/76B | €1,040 | €1,178 | +€138 | +13.3% |
| Recurring financial income | 75 | €1,040 | €1,178 | +€138 | +13.3% |
| Financial charges | 65/66B | €699 | €782 | +€83 | +11.9% |
| Recurring financial charges | 65 | €699 | €782 | +€83 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €61,476 | €85,525 | +€24,049 | +39.1% |
| Income taxes | 67/77 | -€3,980 | €3,878 | +€7,858 | |
| Profit (loss) for the period | 9904 | €65,457 | €81,647 | +€16,190 | +24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €65,457 | €81,647 | +€16,190 | +24.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.